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David Lloyd prepares for £1.3bn sale
By Matthew Campelli
David Lloyd Club Amida spas will have a range of Elemis products
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Exeter City Council
£40,221 - £42,403pa + pension + benefits
location: Exeter, United Kingdom
The Pickaquoy Centre
£30,000pa + local Govt pension + attractive benefits package
location: Orkney, Scotland, United Kingdom
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TDR Capital, the owner of the David Lloyd gyms, is gearing up to sell the chain in a £1.3bn (US$1.6bn, €1.5bn) deal following its acquisition of 16 Virgin Active clubs.
According to a report in the Telegraph, a number of private equity firms are circling the mid-market brand ahead of an official auction in the summer.
David Lloyd was bought by TDR for £750m (US$919.6m, €868.1m) in 2013. It’s estate comprises of 83 fitness clubs in the UK and a further 12 on the continent in the Netherlands, Belgium and Spain.
That number will rise to 111 overall once the acquisition has been rubberstamped by the Competition and Markets Authority (CMA), although a formal investigation is due to get under way.
As well as acquiring the sites, TDR has also ploughed £120m (US$147.1m, €138.9m) into refurbishing its estate, including the opening of five new-build clubs.
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TDR Capital, the owner of the David Lloyd gyms, is gearing up to sell the chain in a £1.3bn
(US$1.6bn, €1.5bn) deal following its acquisition of 16 Virgin Active clubs.
HAF
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